HomeMy WebLinkAbout02-23-2022 IAC MinutesMINUTES -FINAL
City of Orange
Investment Advisory Committee
February 23, 2022
The Investment Advisory Committee of the City of Orange, California convened on February 23, 2022, at 3:00
p.m.in a Special Meeting in the Finance Conference Room,300 E. Chapman Avenue,Orange, California.
1. OPENING/CALL TO ORDER
Chair Sallinger called the meeting to order at 3:08 p.m.
1.1 ROLL CALL
Present: Sallinger, Sallinger, and Mittmann
Absent: None
2. PUBLIC COMMENT
None
3. APPROVAL OF MINUTES
3.1. Approval of meeting minutes of the Investment Advisory Committee of the City of
Orange for the November 3, 2021, Regular Meeting
A motion was made by Vice Chair Sallinger, seconded by Committee Member
Mittmann, that these Minutes be Approved. The motion carried by the following vote:
Ayes: Sallinger, Sallinger, and Mittmann
Noes: None
Absent: None
4. RATE SUMMARY
4.1. Rate Summary December 2020 -December 2021
ACTION: Received and filed.
5. INVESTMENT PORTFOLIO UPDATE
5.1. Investment Portfolio Update
Christopher McCarry, Senior Portfolio Strategist with Chandler Asset Management
prepared a presentation, with sections dedicated to the City's Account Profile and
Portfolio Holdings, and provided updates through January 31, 2022.
ACTION: Received and filed.
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Investment Advisory Committee Minutes-Final February 23,2022
6. TREASURER'S INVESTMENT REPORTS
6.1. Treasurer's Reports for October, November, and December 2021
Christopher McCarry, Senior Portfolio Strategist with Chandler Asset Management
provided a presentation regarding their investment report through January 31, 2022.
ACTION: Received and filed.
7. INVESTMENT POLICY UPDATES
7.1. Proposed Changes to the Investment Policy
Chandler Asset Management provided an analysis to the Investment Oversight and
Investment Advisory Committees regarding suggested changes to the Investment
Policy.
Proposed changes to the Investment Policy were recommended for approval by the
IAC, with the exception of one item; suggested change to Section 3.2 (c) regarding
negative accrual investments was rejected by committee.
8. ECONOMIC UPDATES
8.1. Sales Tax Update
ACTION: Received and filed.
8.2. California Forecast Sales Tax Trends and Economic Drivers
ACTION: Received and flied.
9. ADJOURNMENT
Meeting adjourned at 4:55 p.m.
On April 12, 2022, the City Council adopted Resolution No. 11387 and Ordinance
No. 02-22 establishing the Investment and Audit Committee and eliminating the
Investment Advisory Committee, Audit Committee, and Investment Oversight
Committee.
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